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Asia Pacific Region Contributing Largest Share

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Pooja Khodke
Asia Pacific Region Contributing Largest Share

The global Scottish Whisky Market is estimated to be valued at Us$ 5.65 Bn in 2022 and is expected to exhibit a CAGR Of 5.3% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Scottish whisky is a highly popular distilled alcoholic beverage made from malted barley. It is smooth, versatile and often blended according to specific recipes. Scottish whisky is known for its distinct flavor profiles ranging from floral and fruity to smoky. The demand for premium and super premium Scottish whisky is increasing due to rising disposable income and preference for craft spirits.


Market key trends:


One of the major trends witnessed in the global Scottish whisky market is the increasing popularity and sales in the Asia Pacific region, especially in countries like China, Japan, India and South Korea. The expanding middle class population, rising economic prosperity and growing appreciation for premium spirits in the region is fueling the sales of Scottish whisky. Several leading players are focusing on niche and luxury packaging aimed at the Asia Pacific consumers to boost their revenues. This shift towards the high potential Asia Pacific market is projected to remain a key trend over the forecast period.


Segment Analysis


The Scottish whisky market is segmented by type into malt whisky, blended whisky, and grain whisky. The blended whisky segment dominated the market in 2018 and accounted for over 60% share of the total market. This is because blended whisky has a more approachable flavor profile for new consumers and is more affordable compared to single malt whiskies. Its smoother taste appeals to a wider consumer base.


Key Takeaways


The global Scottish whisky market is expected to witness high growth, exhibiting a CAGR of 5.3% over the forecast period, driven by increasing consumer preference for premium and craft spirits.


Regional Analysis:


Regionally, North America accounted for the largest share of over 30% in the global Scottish whisky market in 2018. However, the Asia Pacific region is expected to grow at the fastest rate during the forecast period due to rising disposable incomes and exposure to premium spirits in the region. Countries like China, Japan, and India are expected to be highly lucrative markets.


Key Players:


Key players operating in the Scottish Whisky Market are Diageo Plc., Pernod Ricard, William Grant and Sons Ltd., Bacardi Limited, Bowmore Distillery, Suntory Beverage & Food Limited, Brown-Forman Corporation, LVMH, Isle of Arran Distillery, La Martiniquaise, and The Edrington Group.


The global Scottish whisky market size was valued at US$ 4.97 billion in 2018. Over the forecast period, rising premiumization trend among consumers globally is expected to drive the high growth of the market.


Read More :  https://www.insightprobing.com/4094-2/

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Pooja Khodke
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